The Federal Reserve may scrap international measures aimed at assessing bank health in favor of imposing its own rules, frustrating bankers who have spent billions of dollars retooling their books to meet global standards.

Compliance means respecting the law. In the competition field, it means business proactively respecting competition rules.

Thursday, 27 March 2014 12:39


The schedule for the implementation of FATCA advances: April 25th, 2014, which is almost there, is the last day for registering with the Internal Revenue Service (IRS) for those Foreign Financial Institutions (FFIs) that want to appear on the first list of FATCA-compliant FFIs to be published by the IRS in July 2014.


The enforcement of competition law in Spain has experienced important changes during the last two and a half years. A new Act (Act 15/2007, on Defence of Competition, ADC) entered into force, creating a new Competition Administrative Authority (Comision Nacional de la Competencia, CNC). 

The purpose of compliance is to help prevent the risks for a company that can arise as a result of the infringement of an applicable law, by putting in place internal control procedures and measures.

Wednesday, 05 March 2014 10:54

Control in the new CGOV Code - VdA

For more than a decade, the only existing set of recommendations on corporate governance in Portugal (Code of Corporate Governance) were adopted and released by the Portuguese Securities Market Commission (CMVM).

n January the European Commission presented a reform of the EU Data Protection Directive. The main focus is to guarantee privacy rights in the digital economy and to remove the current fragmentation and costly administrative burdens due to the existence of 27 different national laws. 

Wednesday, 05 March 2014 10:52

New Data Regulation and lobbyists - Lener

The new Data Protection Regulation proposal developed by the EU will be applicable to European and foreign organisations and to those that, although not based in Spain, commercialise products and services targeted at European citizens.

The Spanish Data Protection Agency (SDPA) recently fined two small to medium size companies (SMEs) for non-compliance of the relevant duties on ‘cookies’ requirements, in the amounts of €3,000 and €500  respectively. In particular, as further described below, said fines arise from the infringement of the obligations laid down under article 22.2 of the Spanish E-Commerce Act (LSSI). These companies included information storage devices or cookies on their websites, but the information provided to users on cookies use and purposes, or the reference thereof, was confusing. Consequently, the consumers´ consent, as understood by the SDPA, was not provided under the conditions legally required.

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